Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net interest income
Interest income	[1]	$ 23,559	$ 18,014	$ 40,218	$ 51,474
Interest expense		(11,041)	(13,197)	(33,774)	(38,503)
Total net interest income		12,518	4,817	6,444	12,971
Other income (loss)
Reversal of (provision for) credit losses		298	(6,276)	720	(6,236)
Dividend income		503	0	1,504	0
Other income		240	38	728	391
Realized gain		14	0	485	0
Loss on extinguishment of debt		(175)	0	(359)	0
Gain on deconsolidation of variable interest entity		0	0	0	1,490
Equity in income (losses) of equity method investments		(1,105)	(1,675)	(3,997)	(2,564)
Revenues from consolidated real estate owned		2,189	1,083	6,435	3,147
Total other income (loss)		18,659	(15,535)	42,026	4,784
Operating expenses
General and administrative expenses		2,161	2,524	9,527	7,053
Loan servicing fees		341	1,049	1,258	3,155
Management fees		1,042	820	2,774	2,470
Expenses from consolidated real estate owned		4,300	1,939	14,105	4,272
Total operating expenses		7,844	6,332	27,664	16,950
Net income (loss)		23,333	(17,050)	20,806	805
Net (income) loss attributable to redeemable noncontrolling interests		(3,940)	2,374	(4,322)	(1,419)
Net income (loss) attributable to common stockholders		$ 16,116	$ (15,550)	$ 9,317	$ (3,236)
Weighted-average common shares outstanding - basic (in shares)		17,461	17,232	17,383	17,188
Weighted-average common shares outstanding - diluted (in shares)		30,468	23,086	27,673	22,950
Earnings (loss) per share outstanding - basic (in dollars per share)		$ 0.92	$ (0.90)	$ 0.54	$ (0.19)
Earnings (loss) per share outstanding - diluted (in dollars per share)		0.74	(0.90)	0.54	(0.19)
Dividends declared per common share (in dollars per share)		$ 0.5000	$ 0.6850	$ 1.5000	$ 2.0550
Series A Preferred Stock
Operating expenses
Net (income) loss attributable to Series preferred stockholders		$ (874)	$ (874)	$ (2,622)	$ (2,622)
Series B Preferred Stock
Operating expenses
Net (income) loss attributable to Series preferred stockholders		(2,403)	0	(4,545)	0
CMBS Structured Pass Through Certificates
Other income (loss)
Unrealized gain (loss)		1,541	710	1,962	926
Common Stock
Other income (loss)
Change in unrealized gain (loss)		4,289	(16,464)	1,647	(17,556)
Series A Preferred Stock
Other income (loss)
Change in unrealized gain (loss)		201	0	303	0
MSCR Notes
Other income (loss)
Unrealized gain (loss)		0	(15)	(13)	13
Collateralized Mortgage Backed Securities
Other income (loss)
Unrealized gain (loss)		464	27	1,079	247
Noncontrolling interest in CMBS VIEs
Other income (loss)
Change in net assets related to consolidated CMBS variable interest entities		10,200	7,037	31,532	24,926
Unrealized gain (loss)		(1,871)	(2,767)	(5,597)	(6,408)
Redeemable Noncontrolling Interests
Operating expenses
Net (income) loss attributable to redeemable noncontrolling interests		$ (3,940)	$ 2,374	$ (4,322)	$ (1,419)

[1]     Includes $25.0 million related to accelerated amortization of the premium associated with the prepayment on a senior loan in the first quarter of 2024.